Rogers Corporation (ROG)
Number of days of payables
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Payables turnover | 17.34 | 17.14 | 12.76 | 21.61 | 24.38 | |
| Number of days of payables | days | 21.05 | 21.30 | 28.61 | 16.89 | 14.97 |
December 31, 2023 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 17.34
= 21.05
The number of days of payables for Rogers Corp. has fluctuated over the past five years. In 2023, the company took an average of 30.53 days to pay its payables, which was a slight improvement from the previous year. This indicates that the company is managing its payables more efficiently. However, compared to 2021 and 2019, where the company took 40.43 days and 20.64 days respectively, to pay its payables, the current figure falls in between those extremes.
Overall, a decreasing trend in the number of days of payables suggests that Rogers Corp. is effectively managing its payment cycles and maintaining good relationships with its suppliers. It is important for the company to strike a balance between managing payables efficiently and ensuring smooth supplier relationships to sustain its operational activities.
Peer comparison
Dec 31, 2023